Canadian Dollar Trendline Turns back Bears (USDCAD Bulls)
240 Minute Bars
Prepared by Jamie Saettele, CMT
There are multiple possible USDCAD outcomes at the current juncture and only a violation of a key level will provide clarity. The bullish triangle remains valid as long as price is above 10075 but the well defined trendline doesn’t exactly inspire confidence in the upside. A drop below would shift focus to the October low at 9891. Near term resistance is 10215.
Bottom Line – flat
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